I understand the desire to leave a wonderful property to one's descendants.
While we won't be around to see what happens after we depart this world, my wife and I wish to avoid creating any disharmony amongst our kids when we are gone.
They all get along great now and we hope it stays that way.
Consider some possible outcomes of a vacation cottage that gets deeded to three adult offspring.
1) All three "kids" use it equally, pay expenses and put in equal time and effort to keep the property nice.
HARMONIOUS!
2) Kid 1 loves it and does the above.
Kid 2 loves it just as much but cannot carry the costs.
Kid 3 moved out west and could really use the proceeds from selling the cottage. Kids 1 and 2 don't have the money to buy out the interest of Kid 3.
DISHARMONY!
One way to set it up is for the will to direct a sale.
If the estate provides enough cash to the three kids then one or two can buy it.
The kid that wants it pays market value and the other two benefit.
Maybe Kid 2 can rent it occasionally using the windfall from the estate.
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